GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline down.
A continuation of the downward movement down to the next support line at 1.27165 is certain.
Caution: A possible change in the direction of the resistance level at 1.27988 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28732 |
| 2nd High | 1.28109 |
| Next High | 1.27988 |
| Current Price | 1.27421 |
| Next Low | 1.27165 |
| 2nd Low | 1.26296 |
| 3rd Low | 1.26171 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows